Practical Matters - Keeping Records, Paying Bills, Tax Deductions, and Cancer

The financial aspects of a serious illness like cancer may be overwhelming. Some tips we've learned so far:

1. Don't pay until you get the EOB (This is like don't fire until you see the whites of their eyes): The EOB is the Explanation of Benefits. Some hospitals and doctors will bill immediately before medical insurance has determined their part.
2. Organize your medical records. Keeping Financial Records and Childhood Cancer.
3. Get to know your insurance plan. Was something denied? Was that a mistake? Insurance Plans at the American Cancer Society site, Seeking Financial Help
4. Know your eligible tax deductions. Download and read Federal Publication 502. You can deduct your copays, money spent for medications, 18 cents per mile for travel to the hospital, clinic, etc., parking at the hospital or clinics, up to $100 per night for lodging when parents are traveling with a sick child, as well as a myriad of other expenses.
5. Participation in a Drug Study? Some patients have had major financial burdens lifted when they were able to enroll in a drug study with a promising medication. They may be able to obtain the medication completely free. The main downsides to this may be that the study may require specific limitations in administration or dosing (depending on the study), and your child might have to have more studies checked because of the needs of the research.
6. Appeal an insurance decision? Don't be surprised if your insurance decides to decline some of your doctors treatment recommendations. You may need to appeal this with doctors notes, a phone call from the doctor, and more documentation. This is often worth the trouble. We successfully appealed our initial decline of an expensive cancer chemo drug (Sutent - price $5800 per month!).